Ripple has announced the closure of its legal case against the SEC, and this event significantly impacts XRP's market dynamics. We explore how high XRP can soar following this news.
XRP's Surge and Market Response
The XRP token surged in the months following the US elections due to expectations of a changed regulatory landscape and the case's favorable outcome for the company. Although XRP initially spiked after Brad Garlinghouse's announcement of the case closure, its momentum soon faded. Currently, XRP's price is down 1% on a weekly scale. However, the long-term implications may change if the SEC clears XRP's name and even classifies it as a commodity.
ChatGPT's XRP Price Predictions
ChatGPT forecasts a price range of $5 to $7 for XRP in 2025, requiring it to break its previous all-time high and more than double its price. A more optimistic scenario suggests a rise to $10-$15 in the next 18 months, with an extreme case foreseeing a surge to $20-$30.
Factors Influencing Potential Growth
The main drivers behind XRP's significant (and perhaps far-fetched) price increases include:
1. Wider adoption of Ripple's XRPL ledger and the XRP token for cross-border payments and whale accumulation. 2. Increased institutional confidence and adoption after the lawsuit's end. 3. The potential approval of an XRP ETF in the US. 4. Major partnerships for Ripple after the case conclusion. 5. A global shift towards blockchain-based settlements, where XRPL could be a leader.
All these factors need to align for XRP to surge to the mentioned targets.
Despite current skepticism, the crypto market can shift rapidly, and XRP has already demonstrated its ability to achieve triple-digit price surges in a short period. The closing of the SEC case may open new opportunities for XRP.
